Hezbollah blamed Israel for the explosion of thousands of its operatives' pagers and radios in attacks that spanned two days this week
mena2 hours ago
Abu Dhabi's new real estate law should provide a stronger foundation for inward investment which in the long term should benefit the choice and competiveness in the occupational market.
However, in the short term, regional unrest and global economic headwinds have reduced interest and take up from international companies looking to locate in Abu Dhabi.
In the last half of 2015, subsequently with the oil price affecting market sentiment, Knight Frank witnessed a slowdown in the number of office enquiries.
Engineering and Construction continued to be the most active sectors in the number of enquires, which reflects the recent growth in the number of infrastructure and real estate projects under progress.
In the second half 2015 Knight Frank Abu Dhabi Office Research report, it is reported that grade A and prime supply remain subdued with the possibility of some new developments under construction being further delayed in completion. Prime office rents remained steady to Dh1,900 per sqm, whilst rental values for Grade A shell and core office space remained steady at Dh1,300 per sqm. Buildings which do not meet occupier's exact requirements in terms of specification, parking, access and egress will face continued voids as occupiers that do relocate will be reviewing the market more carefully.
Matthew Dadd, Partner at Knight Frank, said: ''With economic growth expected to slow and UAE inflation expected to fall in 2016 from four per cent in 2015 to 3.5 per cent in 2016, the outlook for the UAE still remains positive. However, demand from occupiers is expected to remain low with take up for smaller requirements. There is however, limited supply entering the market, which will mean landlords will not witness a jump in availability across the market."
- business@khaleejtimes.com
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